An increase in turnover is expected in the energy drink sector of Red Bull, Mars products, wine, ouzo, water, and stabilization in the rest of the merchandise brands with minor fluctuations, according to the management of the Mantis Group for the current year.

Overall, the management's predictions for both the parent company and its subsidiaries are very positive, anticipating a significant increase in business volume and profitability.

INVESTMENTS

Also, as noted in the latest financial report, the group initiated a series of new investments in 2023 across its constituent companies, including:

• Investments in new mechanical and fixed equipment, both in the wineries and in the bottling line at Oinopoieia Malamatina.
• Investments in experienced human resources.
• Initiatives for expanding facilities in storage areas to meet the growing needs of the group's companies.
• Construction and building interventions/improvements at the facilities in Chelia Mornou AVE in Kastraki, Nafpaktos.

THE PICTURE OF 2022

Regarding the past year, the group's turnover increased by 11.93%, primarily due to the growth in sales of water, wines, and Mars products.

The 30.3% growth for the parent company is attributed to the expansion of the energy drink sector and an increase in market share. Additionally, the cost of goods sold increased by 7.79% (33.6% for the parent company).

However, the percentage increase was higher compared to the growth in revenue, due to the adjustment of the customer base mix between retail and wholesale customers and larger offers to customers.

OPERATING EXPENSES INCREASED BY +44.85% 

The operating expenses of the group increased by 44.85%, mainly due to:

• Increased advertising expenses for the new products of Attraction AE.
• Increased transportation costs as a result of the growth in sales volume.
• Increased energy and fuel costs.
• Increased wage costs.
• Increased storage and logistics costs, as well as other necessary expenses for the development of department operations.

FINANCIAL EXPENSES AND OTHERS

"The financial expenses of the group increased by 46.61%, mainly due to the increase in borrowing, with a significant part of the increase attributed to the integration of the activities of Malamatina (and the related loans) into the group.

Administrative operating expenses of the company increased by 36.5%, mainly due to an increase in the salaries of administrative staff, travel and public relations expenses, vehicle expenses, and other miscellaneous expenses.

Finally, other expenses and losses increased by 220.5%, primarily due to the write-off of uncollectible receivables.